Octagon veteran Matthieu Feneart has been promoted to chief executive of LaLiga side Real Valladolid as the club’s new majority stakeholder, former Real Madrid and Brazil forward Ronaldo Luis Nazario, begins his overhaul of the executive team. The French executive will take over the day-to-day running of the club from former owner Carlos Suárez, who agreed to remain in position to help with the transition under the new ownership.
Feneart joined the Spanish club in November last year, two months after Ronaldo acquired a 51-per-cent stake. He was initially appointed the club’s commercial director and was tasked with establishing a new commercial office in Madrid to be closer to major brands and potential sponsors.
Before joining Valladolid, he spent ten years with the Octagon agency where he was director of the global events and hospitality division. He was based in Russia in the build-up to the 2018 Fifa World Cup and moved to Tokyo in advance of this year’s Rugby World Cup and the Tokyo 2020 Olympics. Fenaert and Ronaldo are understood to have worked together at Octagon Brazil.
Former chief executive Suárez will continue as honorary president, holding a position on the club’s board of directors. Ronaldo and non-advisory secretary Javier Ferrero will fill the remaining positions on the board with Suárez’s brother Eduardo stepping down. David Espinar is understood to have taken over as commercial director.
Valladolid was promoted to LaLiga last season and finished four points above the relegation zone in sixteenth place. The club struggled with debts a decade ago but has begun to turn things around in recent years. As a result of its promotion to LaLiga, the club expected to see its debts drop to less than €3m. According to Spanish media reports, Ronaldo paid around €30m for the club.